Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: An end of the month (1/31/18) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory?
A) $800
B) $832
C) $848
D) $868

Question

Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows:  An end of the month (1/31/18) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory?
A) $800 
B) $832 
C) $848 
D) $868

Quizplus · Accepted Answer

The Answer of Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows:  An end of the month (1/31/18) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory?
A) $800 
B) $832 
C) $848 
D) $868

Effie Company Uses a Periodic Inventory System